Sunday, July 26, 2009

By Mark Udall (originally published in the Durango Herald News,March 16, 2009)

Plunging stocks, rising unemployment, mounting homeforeclosures and a broken credit market have made for the mostchallenging economic crisis since the Great Depression. Aseries of costly bailouts to keep our financial services andautomobile industries afloat has added to the anxiety we all feel.

Nothing is more important than getting our economy back ontrack and doing it soon. In great crisis, however, there alsois great opportunity. Rebuilding long-neglected infrastructureand investing in research, new technologies and sustainableenergy are part of what defines economic opportunity in the21st century. Other countries know this. Europe in particularis advancing public investment in solar, wind and geothermalenergy, not only because of energy security, but also becausethese “green jobs” are the wave of the future.

Renewable energy and energy efficiency technologies accounted for 9 million jobs in 2007. And as many as 37 million jobs could be created in the next two decades if we aggressively expand public and private investment today. These new “green economy” jobs reflect a significant economic trend that is exciting smart investors. That is why one of America’s premier oil entrepreneurs, T. Boone Pickens, has become an outspoken advocate for wind power. He knows that there is a lot of “green” (as in dollars) to be made in the green economy In Colorado, we have a head start in the global race to go green.

Starting with the passage of Amendment 37 five years ago, Colorado voters insisted that 10 percent of our power be generated with renewable energy. When I chaired that campaign with Republican Speaker of the House Lola Spradley, she often would remind me that the real promise of Amendment 37 was not environmental protection but economic development. She was right. Despite the naysayers, Amendment 37 boosted our economy and helped consumers.

Today, Colorado has pushed ahead of other states. We now aremoving toward a new goal of 20 percent renewable energy by2020. Rapid growth in renewable energy and energy efficiencyindustries, along with the presence of the National RenewableEnergy Laboratory in Colorado and our abundant sun and windresources, can combine to make our state not just the nationalleader but the global leader in renewable energy research,development and manufacturing.

This doesn’t mean the abandonment of coal, natural gas ortraditional energy development. Colorado is blessed with manyresources, and we should pursue a national energy strategy thatis as diverse as our resource inventory. A broad commitment toinvest in renewable energy and energy efficiency technologieswill complement, not detract from, the responsible developmentof these other resources.

After passing an economic recovery bill that has significantnew investments to create green economy jobs, the U.S. Senateis moving to debate and pass a comprehensive energy bill thatshould include legislation I championed in the U.S. House ofRepresentatives last year - legislation mandating that 20percent of our nation’s electricity come from renewablesources. This legislation is patterned from Colorado’s ownexperience with Amendment 37 and will have the same effect ofincreasing our energy independence, saving consumers money andcreating new jobs.

A comprehensive energy bill will add new authority for theObama administration to transform the nation’s electric grid -the system used by utilities to carry and store power - into asmarter and more efficient way to connect our communities,factories and homes. More green jobs.

Energy is the thread in the fabric that is our economy. It isthe great umbrella issue that covers both our national securityand economic challenges. If we get our energy strategy right,we can go a long way toward enhancing our defense and nationalsecurity. A smarter energy policy also will give us a ladder toclimb out of the current economic hole and create new wealthand jobs that cannot be outsourced.

The clouds on our horizon may look dark and foreboding, but Iam confident Americans will see the storm through. That isbecause the horizon also offers hope and reminds us that a newday is coming. We can make Colorado’s economy stronger andbrighten the future for our children if we seize this newopportunity.

About My Colorado Energy blog

My goal is to provide current energy news in the state of Colorado and provide valuable information about Colorado Energy companies such as Heartland Energy Colorado, Colorado Management and many more. I am not affiliated with any oil and gas company in Colorado and do not represent any energy company either. I am trying to provide a resource for Colorado Energy news and report the trends of Colorado Energy Companies.